Director, Provisioning Methodology & Insights

Director, Provisioning Methodology & Insights

Apply locations Toronto, ON, CAN

Time Type:
Full time

Posted on:
Posted 2 Days Ago

Job Requisition ID:
R240032142

Application Deadline:
02/02/2025

Address:
33 Dundas Street West

Job Family Group:
Data Analytics & Reporting

We are opening up a brand-new paradigm within North American Retail Risk where you will own refinement of new loss forecasting methodologies, and drive insights and analytics. We have existing processes to be revamped and have produced new methodology to do so. We are seeking a talented Director, Provisioning Methodology & Insights to take the concepts and implement them across the whole North American retail book. You will have the opportunity to see the changes coming from it while learning and making changes in real time. This is a fantastic opportunity to drive benefits here at BMO. This role will play a key part in the identification of segments and portfolios the bank should focus on for continuing to drive value. You will own refinement of the provisioning methodology while working with the broader modeling team and executing with pace. Core responsibility is to lead the team and provide insight and analytics of the new process outcomes to understand root cause of changes and make appropriate enhancements.

Applies mathematical and statistical methods to financial and risk management problems (e.g., internal controls; enterprise-wide stress testing and scenario analysis; capital modelling; valuations). Through quantitative analytical modelling, identifies important factors to consider for financial disaster and recovery plans. Conducts research and creates tools that use data to develop scenario-based planning and implements complex mathematical models to help the business make better financial decisions (e.g., investments, pricing, etc.), drive innovation and minimize the impact of uncertainty.

• Develops pricing and quantitative risk models for an assigned portfolio e.g., fixed income, corporate credit, and loans.
• Monitors risk in strategies and portfolios alongside project managers or functional leads.
• Conducts research and develops tools that use data to make better financial decisions; such as:
  investments, pricing, etc.
• Applies knowledge of risk assessment and controls along with extensive understanding of industry compliance standards and regulations.
• Identifies ways of mitigating potential risks; recommends and implements solutions based on analysis of issues and implications for the business.
• Documents data flow, systems, and processes to improve the design, implementation, and management of business/group processes.
• Conducts quantitative research in risks across strategies and portfolios.
• Fosters a culture aligned to BMO purpose, values, and strategy and role models BMO values and behaviours in all that they do.
• Ensures alignment between values and behaviour that fosters diversity and inclusion.
• Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Operates at a group/enterprise-wide level and serves as a senior specialist resource across BMO.
• Influences how teams/groups work together.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems.
• Communicates abstract concepts in simple terms.
• Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives.
• Anticipates trends and responds by implementing appropriate changes.
• Broader work or accountabilities may be assigned as needed.

Qualifications:

Advanced level of proficiency:

• Regulatory capital and stress testing.
• Compliance and regulation.
• Machine learning.
• Learning Agility.

Expert level of proficiency:

• Model risk management.
• Data visualization.
• Data wrangling.
• Data preprocessing.
• Critical thinking.
• Driving Results.
• Quantitative financial modeling.
• Computational thinking and programming.
• Verbal & written communication skills.
• Analytical and problem-solving skills.
• Collaboration & team skills; with a focus on cross-group collaboration.
• Able to manage ambiguity.
• Data-driven decision making.
• Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Seasoned expert with extensive industry knowledge.
• Technical leader viewed as a thought leader for innovation.

Salary:
$124,200.00 - $231,000.00

Pay Type:
Salaried

The above represents BMO Financial Group's pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on the number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.

BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:
BMO Total Rewards.

About Us

At BMO, we are driven by a shared Purpose:
Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities, and our people.